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Side-by-side financial comparison of Webull Corp (BULL) and JFrog Ltd (FROG). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $131.5M, roughly 1.1× Webull Corp). JFrog Ltd runs the higher net margin — -10.5% vs -21.5%, a 11.0% gap on every dollar of revenue. On growth, Webull Corp posted the faster year-over-year revenue change (46.3% vs 25.2%). Webull Corp produced more free cash flow last quarter ($271.7M vs $49.9M).
Webull Corporation, often stylized as simply Webull, is a US-based financial services holding company headquartered in St. Petersburg, Florida. It provides an electronic trading platform of the same name.
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
BULL vs FROG — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $131.5M | $145.3M |
| Net Profit | $-28.3M | $-15.2M |
| Gross Margin | — | 77.9% |
| Operating Margin | -16.3% | -14.7% |
| Net Margin | -21.5% | -10.5% |
| Revenue YoY | 46.3% | 25.2% |
| Net Profit YoY | -144.3% | 34.4% |
| EPS (diluted) | — | $-0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $145.3M | ||
| Q3 25 | — | $136.9M | ||
| Q2 25 | $131.5M | $127.2M | ||
| Q1 25 | — | $122.4M | ||
| Q4 24 | — | $116.1M | ||
| Q3 24 | — | $109.1M | ||
| Q2 24 | $89.9M | $103.0M | ||
| Q1 24 | — | $100.3M |
| Q4 25 | — | $-15.2M | ||
| Q3 25 | — | $-16.4M | ||
| Q2 25 | $-28.3M | $-21.7M | ||
| Q1 25 | — | $-18.5M | ||
| Q4 24 | — | $-23.2M | ||
| Q3 24 | — | $-22.9M | ||
| Q2 24 | $-11.6M | $-14.3M | ||
| Q1 24 | — | $-8.8M |
| Q4 25 | — | 77.9% | ||
| Q3 25 | — | 77.4% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 75.3% | ||
| Q4 24 | — | 75.4% | ||
| Q3 24 | — | 75.0% | ||
| Q2 24 | — | 78.8% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | — | -14.7% | ||
| Q3 25 | — | -15.8% | ||
| Q2 25 | -16.3% | -20.4% | ||
| Q1 25 | — | -18.8% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | — | -27.4% | ||
| Q2 24 | -11.4% | -18.6% | ||
| Q1 24 | — | -16.6% |
| Q4 25 | — | -10.5% | ||
| Q3 25 | — | -12.0% | ||
| Q2 25 | -21.5% | -17.0% | ||
| Q1 25 | — | -15.1% | ||
| Q4 24 | — | -20.0% | ||
| Q3 24 | — | -21.0% | ||
| Q2 24 | -12.9% | -13.9% | ||
| Q1 24 | — | -8.8% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.14 | ||
| Q2 25 | — | $-0.19 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-0.21 | ||
| Q3 24 | — | $-0.21 | ||
| Q2 24 | — | $-0.13 | ||
| Q1 24 | — | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $476.7M | $704.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $751.6M | $887.4M |
| Total Assets | $2.6B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $704.4M | ||
| Q3 25 | — | $651.1M | ||
| Q2 25 | $476.7M | $611.7M | ||
| Q1 25 | — | $563.5M | ||
| Q4 24 | — | $522.0M | ||
| Q3 24 | — | $467.8M | ||
| Q2 24 | — | $591.3M | ||
| Q1 24 | — | $579.6M |
| Q4 25 | — | $887.4M | ||
| Q3 25 | — | $859.4M | ||
| Q2 25 | $751.6M | $826.5M | ||
| Q1 25 | — | $800.0M | ||
| Q4 24 | — | $773.5M | ||
| Q3 24 | — | $756.2M | ||
| Q2 24 | $-2.9B | $721.4M | ||
| Q1 24 | — | $707.8M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $2.6B | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $997.1M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $272.1M | $50.7M |
| Free Cash FlowOCF − Capex | $271.7M | $49.9M |
| FCF MarginFCF / Revenue | 206.6% | 34.3% |
| Capex IntensityCapex / Revenue | 0.3% | 0.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $142.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $50.7M | ||
| Q3 25 | — | $30.2M | ||
| Q2 25 | $272.1M | $36.1M | ||
| Q1 25 | — | $28.8M | ||
| Q4 24 | — | $49.1M | ||
| Q3 24 | — | $27.6M | ||
| Q2 24 | — | $16.7M | ||
| Q1 24 | — | $17.5M |
| Q4 25 | — | $49.9M | ||
| Q3 25 | — | $28.8M | ||
| Q2 25 | $271.7M | $35.5M | ||
| Q1 25 | — | $28.1M | ||
| Q4 24 | — | $48.5M | ||
| Q3 24 | — | $26.7M | ||
| Q2 24 | — | $16.0M | ||
| Q1 24 | — | $16.6M |
| Q4 25 | — | 34.3% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | 206.6% | 27.9% | ||
| Q1 25 | — | 23.0% | ||
| Q4 24 | — | 41.8% | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | 0.3% | 0.5% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
